FCP drills fourth well, tests third on Block 405b in Algeria

HOUSTON, Sept. 5 -- First Calgary Petroleums Ltd. (FCP), Calgary, reported that it has begun drilling operations on the MLE-4 appraisal well on the company's Ledjmet Block 405b in Algeria.

The well, 4.9 km southwest of MLE-3, is the fourth well drilled on the Ledjmet pool. It will be drilled to 4500 m TD, with well operations expected to take about 61 days to drill, log, case, and complete. An extensive production-testing program is planned following the release of the drilling rig.

Results from the appraisal well will further define natural gas and condensate discoveries made by wells MLE-1, MLE-2, and MLE-3, will provide definition for the 5.7 tcfe of reserves already estimated by FCP's independent engineers DeGolyer & MacNaughton, and will allow for the appraisal of further reserve additions, FCP said.

FCP also has commenced a 40 day production test on its recently completed MLE-3 well. The MLE-3 well has cumulative net hydrocarbon pay of 121 m, in a total of eight pay intervals.

Production tests on the initial two wells indicated that MLE-2 showed gas and condensate from six zones with cumulative rates of 44,330 boe/d189 MMcfd of natural gas and 12,874 b/d of condensate. And MLE-1 tests showed gas and condensate from three zones with cumulative rates of 8,911 boe/d, comprised of 43 MMcfd of gas and 1,745 b/d of condensate.